于本公布日期，目标集团已在中国、美国、俄罗斯、欧洲、日本、澳洲及加拿大等不同地区获得了60多项专利。Yuxing Infotech (08005) announced that on November 29, 2024, the company's direct wholly-owned subsidiary...
According to Zhito Finance APP, Yuxing Infotech (08005) announced that on November 29, 2024, its direct wholly-owned subsidiary, Lifu, entered into a subscription agreement with target company Profound View Group for Lifu to subscribe for 2.30% of the enlarged share capital of the target company. The cost of the subscription will be 18 million Hong Kong dollars. Upon completion, Lifu's equity interest in the target company will increase from 8.41% of the enlarged share capital of the target company to 10.71%. The financial performance of the target group will not be consolidated into the group's consolidated financial statements.
The target group is primarily engaged in the research and development of innovative drugs and biological preparations for Class 1 neurodegenerative diseases in China, particularly targeting Alzheimer's disease, Parkinson's disease, and glaucoma. With the gradual enhancement of the value of innovative biologics, the varieties of innovative biologics in Chinese pharmaceutical enterprises are continuously changing, shifting from metoo-type new drugs (referring to drugs similar to existing ones, usually involving slight modifications of the prototype) to high-value and urgently clinically needed generic innovative drugs (best-in-class) and innovative drugs (first-in-class), indicating a continuous rise in demand for innovative drugs. Since the promulgation of the State Council's opinion on reforming the drug and medical instruments review and approval system on August 18, 2015, the number of approved innovative drugs in China has been increasing. Although the approval of innovative drugs decreased in 2020 under the impact of the COVID-19 pandemic, it was also the first time the number of approvals for innovative drugs in China was close to that of multinational companies.
As of the date of this announcement, the target group has obtained more than 60 patents in different regions including China, the USA, Russia, Europe, Japan, Australia, and Canada.
As of the date of this announcement, the group holds 8.41% of the share capital of the target company. To seize the momentum, the group hopes to take advantage of investment opportunities to develop new drugs for non-curable diseases with commercialization potential and potentially lucrative markets. Given the emerging market for innovative drugs in the biopharmaceutical industry, supported by favorable government policies; and the prospects of the target group’s contributions to medical research and development for neurodegenerative diseases in the biopharmaceutical field both domestically and internationally, the board of directors (including independent non-executive directors) believes that subscribing for an additional 2.30% equity interest in the target company will help the group achieve good investment returns in the future.
